ABSTRACT

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Obligation to Mitigate Loss and the Concept of "Reasonableness" in International Commercial Law

Author: Stephan REIFEGERSTE / Guillaume WEISZBERG

Type: Article

ref: 22004181-197

N0:2 of 2004

Pages: 181-197

Faced with the inadequacies of international commercial law, both practitioners and authors of standards, international conventions and draft codifications of international contract law, have brought in new measures aimed at introducing flexibility into texts that were too rigid or at strengthening lax provisions.

The obligation to mitigate loss and the concept of "reasonableness", which pre-date the measures mentioned above, had a role to play in these two trends that was highlighted by domestic lawyers in their own legal systems.

This article examines the common points of these two international commerce "concepts" that, instead of being left redundant, have been put into practice and become indispensable to the "needs of modern-day international commerce".